Indian Economy General Knowledge Questions and Answers

1 The symbol of Reserve Bank of India is

A Tiger before a Palm tree

B Capitol of Asokan Pillar

C Kuber with a purse of money

D A Dog sitting in a defensive state

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Answer: Option [A]

2 The achieve high rates of growth of national output, the economy has to

A Borrow foreign capital

B Step up the rate of savings

C Reduce the rate of growth of population

D Increase the rate of investment and reduce the capital output ratio

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Answer: Option [D]

3 National income refers to

A Money value of stocks and shares of a country during a year

B Money value of capital goods produced by a country during a year

C Money value of consumer goods produced by a country during a year

D Money value of goods and services produced in a country during a year

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Answer: Option [B]

4 Why did the Government ban the import of “Terminator seeds”?

A To contain a virus which can destroy local crops

B These seeds multiply at very slow rates

C These seeds are injurious to human and animal health

D These seeds contain genetically engineered properties to prevent further multiplication

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Answer: Option [D]

5 Merchant Banking is an institution which provides finances to:

A International trade among countries

B Domestic retail trade among

C International aid agencies

D Domestic whole sale trade

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Answer: Option [A]

6 Which amidst the following taxes collected by the Union is NOT mandated to be assigned to the States?

A Service Tax

B Taxes on consignment of goods

C Taxes on railway fares and freights

D Terminal taxes on goods or passengers carried by railway, sea or air

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Answer: Option [A]

7 Inflation is caused by:

A Increase in supply of goods

B Decrease in money supply

C Increase in money supply

D Increase in cash with the government

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Answer: Option [C]

8 Open market operation refers to

A Purchase and sale of Government securities by the R.B.I.

B Purchase and sale of bounds and securities by the Central Govt.

C Borrowing by commercial banks from the R.B.I.

D Lending by scheduled banks to non-scheduled banks

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Answer: Option [A]

9 What is the main function of Central Statistical Organisation (CSO)?

A Determination of money supply

B Price determination

C Collection of estimates of national income

D Collection of detail data regarding employment

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Answer: Option [C]

10 What does National Income mean?

A The total value of all consumer goods produced in the country during a period of one year

B The total value of all capital goods produced in the country during a period of one year

C The total value of all stocks and shares in the country during a period of one year

D The total value of all goods and services produced in the country during a period of one year

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Answer: Option [D]

National Economy of India - General Knowledge Multiple Choice Questions and Answers

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